One vehicle segment that is potentially an appealing option for consumers looking to solve their transportation needs — especially if they have to do it quickly because of recent storms — is continuing to cost more for dealers to acquire. [Read More]

Experts from AiM Mobile Inspections are seeing history repeat itself. And it could mean even more headaches for independent and buy-here, pay-here dealerships already having trouble finding inventory. AiM Mobile Inspections is spotting flood-damaged vehicles surface because of Hurricane Ida that left a destructive path stretching from the Southeast to the Northeast, beginning on Aug. […] [Read More]

 motormindz — an automotive venture consultancy — has chosen a well-known automotive journalism veteran and SiriusXM host as its new president and corporate development officer. The new hire is Jason Stein, current host of the satellite radio giant's "Cars & Culture with Jason Stein" and former publisher of Automotive News.  According to the company, Stein, who is joining […] [Read More]

Online vehicle sales platform Vroom has chosen a new chief financial officer to oversee financial reporting, accounting, tax, treasury, risk management and financial planning and analysis, as well as leading investor relations for the company. Robert Krakowiak is the company's new CFO, and was formely in the same role at Stoneridge Corp., a designer and manufacturer of electrical […] [Read More]

Dealer group giant AutoCanada has purchased a new collision center in Montreal. Its new addition — Autolux MB Collision — is a luxury-brand certified Mercedes-Benz collision center with over 30 years of experience in its market.  "The addition of this high-quality collision centre is another step towards our goal of filling out our national collision center footprint," said executive chairman Paul […] [Read More]

Two of the nation’s publicly traded dealership groups announced respective acquisitions Monday, including one with a price tag in the hundreds of millions of dollars. Group 1 Automotive has entered a deal to buy Prime Automotive Group’s 30 dealerships and three collision centers in a deal that’s expected to be for $880 million. Meanwhile, LMP […] [Read More]

Used Car Week, which is set for Nov. 15-18 at Red Rock in Las Vegas, is proud to announce its 2021 industry partners. These organizations are: International Automotive Remarketers Alliance National Auto Auction Association National Independent Automobile Dealers Association National Automotive Finance Association American Recovery Association Receivables Management Association International “Used Car Week is designed […] [Read More]

TransUnion is making another significant investment in helping finance companies and other clients keep fraud out of their book of business. On Monday, TransUnion said it has signed a definitive agreement to acquire Neustar, an identity resolution company with leading solutions in marketing, fraud and communications, from a private investment group led by Golden Gate […] [Read More]

Auto financing was among the positives highlighted in new, independent study released on Monday that examined the economic benefits of the credit union tax exemption to consumers, businesses, and the U.S. economy. The study commissioned by the National Association of Federally-Insured Credit Unions (NAFCU) determined that credit union rates on new- and used-vehicle financing are […] [Read More]

With some consumers benefitting from refinancing their retail installment contract, the investment world is seeing an opportunity, too. On Monday, OpenRoad Lending and Clarion Capital Partners announced that the New York-based private equity firm that focuses on making equity investments in lower middle market growth companies has completed a strategic investment in OpenRoad, a fast-growing […] [Read More]